West Texas Intermediate (WTI) Oil price edges higher to around $70.30 per barrel during Asian trading hours on Monday. However, crude Oil prices faced downward pressure amid expectations of resumed exports from Kurdistan's Oilfields.On Sunday, Reuters reported that an Iraqi Oil ministry official confirmed Iraq's plan to export 185,000 barrels per day (bpd) from Kurdistan's Oilfields via the Iraq-Turkey pipeline. The ministry stated that all necessary procedures had been completed to facilitate the resumption of exports through the pipeline. Meanwhile, traders remain focused on developments...
Gold price (XAU/USD) attracts some dip-buying during the Asian session on Monday, though it remains confined in a familiar range near the all-time peak touched last week. The uncertainty surrounding US President Donald Trump's trade tariffs and their impact on the global economy, along with the broader risk-averse theme, continues to act as a tailwind for the safe-haven bullion. Apart from this, geopolitical tensions and the underlying bearish sentiment surrounding the US Dollar (USD) turn out to be other factors that underpin the commodity. That said, expectations that the Federal Reserve...
The dollar index dropped 0.4% to around 106.2 on Monday, reaching an 11-week low as the euro surged following the conservative victory in Germany's general election. Friedrich Merz, leader of Germany's conservative opposition, is now expected to form a coalition government aimed at pushing through fiscal reforms. The dollar has also been under pressure amid growing concerns about the US economy, which could prompt the Federal Reserve to cut interest rates further. Data released on Friday revealed that US business activity nearly stagnated in February, with services sector contraction...
The US Dollar Index (DXY), which tracks the Greenback against a basket of currencies, kicks off the new week on a downbeat note and drops to its lowest level since December 10 during the Asian session. The index is currently placed around the 106.25 area, with bears looking to build on weakness below the 100-day Simple Moving Average (SMA).Against the backdrop of the disappointing release of US Retail Sales figures, a disappointing sales forecast from Walmart raised doubts about US consumer health. Adding to this, data released on Friday fueled worries about the US growth outlook amid...
Oil prices slipped in Asia on Monday, extending losses from last week, on the prospect of a resumption of exports from Kurdistan's oilfields, while investors awaited clarity on talks to resolve Russia's war on Ukraine. Brent futures were down 14 cents, or 0.2%, at $74.29 barrel, as of 0441 GMT, while U.S. West Texas Intermediate crude futures lost 22 cents, or 0.3%, to $70.18 a barrel. Both Brent and WTI dropped by more than $2 on Friday, posting weekly declines of 0.4% and 0.5%, respectively. "The downward spiral in crude oil prices is driven by pressure from the U.S. president on Iraq...